"There is not a great enough appreciation, I think, in Silicon Valley for how hard it is to create great content, and, conversely, there is not a great enough appreciation in Hollywood [and New York] for how hard it is to create great technology," said Levinsohn. "When the two of these things come together, it's the most powerful thing that exists in our whole ecosystem."

Watch an excerpt below where the tech legends discuss which companies have the potential to solve digital media, and where Levinsohn also talks about losing his CEO position at Yahoo to Marissa Mayer.